The вЂњDonut-HoleвЂќ in 2010 begins for seniors with Medicare Part-D after they have reached $2830 in spending for the year (this includes the money you pay out of pocket, and money the insurance plan pays on your behalf). At this point, the patient is responsible for the next $4550 out of pocket! This may be financially devastating once it is reached. But what if you had a cost effective plan starting January 1st? If you never reached that donut-hole, youвЂ™d be free from these major out of pocket expenses. This may not be the case for everyone, but for 25% of Americans, it would be, and may be able to save you BIG money on your prescriptions.
*Effective March 23rd, 2010, patients may be eligible for a $250 government rebate if the doughnut hole is reached. However, this could still end up costing an individual $4,300 in unnecessary out of pocket expenses.